Gen Y & Z: Understanding our Consumers of Tomorrow Keynote by Katrina McCarter Summary notes prepared by Julius Maloney
Summary GENERATION Y Gen Y are aged 26 to 41 years 1. Mobile-First Marketing • Gen Ys need a mobile-first marketing strategy. Why? Because these are our first generation of adults who are used to today’s mobile-first method of navigating the world. • Although many Gen Ys own a desktop, they spend almost 7 times the amount of time on a smartphone than on a desktop. On the smartphone they are using apps including Facebook, Instagram, YouTube, Pinterest and TikTok. • They are twice as likely to watch a video ad on their smartphone as they are on television. This is great news for you as a small business owner, as Gen Y are almost twice as likely to act on the ad because research tells us that people watching ads on their smartphones tend to be more active. • Firstly, you need a well-designed website built for mobile. Invest in your website development and maintenance. Always test your website updates and development on your phone and not just your desktop. • If you want to reach Gen Y you need to hang out on their platforms, and this includes socials. You need to be regularly posting on social media to engage with them. 2. Content Over Marketing • The second insight into understanding Gen Ys is that they favour content over traditional marketing messages. Outbound marketing methods, commonly referred to as ‘push’ marketing strategies, including magazine ads, direct mail campaigns and radio ads, just won’t engage this audience. In fact, they repel Gen Y consumers. They find them impersonal. In fact, research shows us that 63% of Gen Y will use an ad blocker on apps. • Instead, they seek ‘attraction’ marketing strategies. They want to read your information via blogs, forums, podcasts, and YouTube videos, and feel empowered to make a purchase from you. • Amplify your blog on your website. Think about what articles, short videos and tips could you create which would be valuable to this consumer and go about creating them. They will find your thought leadership and expertise in optometry helpful. • Then amplify this content to where Gen Y like to hang out – Instagram, YouTube, Facebook. 3. Values Over Value • Gen Y don’t purchase on price alone. In fact, they will frequently purchase based on your values and what causes you support. Research has shown that 91% of Gen Ys will be loyal to a brand that supports a cause. This is significantly higher than the general population.
